Original archived Re: Balancing Financial security and Bitcoin Accumulation
Scraped on 09/08/2025, 20:15:23 UTC
Based on the economic situation in Nigeria, it will take lots of sacrifice for a minimum wage earner to have discretionary funds. The cost of living is going high and salaries have not been increased making people spend all they have earned for the month on basic needs.
Minimum wage earner cannot afford to have discretionary income no matter how they try to minimize cost in Nigeria. The minimum amount for an investor to invest weekly is $10 which is around NGN 15,000 and the monthly minimum wage amount is NGN 70,000.
NGN 15,000 time 4 weeks is NGN 60,000.
NGN 70,000 - NGN 60,000.
What will be left to cover monthly expenses would be NGN 10,000. Which we know it is impossible to cover up their needs.
i feel it is far-fetched to sey there isa minimum amount for Bitcoin investment, I think Bitcoin investment should be done as earlier stated from discretionary funds or income, or you can make a little sacrifice from your non-discriminatory income so as to kick start your Bitcoin investment journey if at all it's possible (NFA), but stating a minimum amount can really be somewhat discouraging to some people.
Just as a sensible income is needed to start investing, 2 more things are needed
1 Basic knowledge about Bitcoin
2 Faith in Bitcoin
I wonder what type of sensible income you are talking about because to the best of my knowledge, their are so many guys out there that wish to invest in Bitcoin that are earning a sensible income as you called it but still can't figure out their discretionary income, what an investor need in other to invest in Bitcoin consistently is a discretionary income and the will to hold for a very long period of time, because if he has the will to hold for the future, he will put down measures that will make him develop a strong holding hands, like having an emergency and reserve funds in place to protect his investment against any unforseen circumstances that may arise in the future.
You are right Futurexxx that having discretionary funds is necessary from the start, and a discretionary income is needed to continue to invest into bitcoin, yet a discretionary income is not needed to get started, only discretionary funds are needed to get started.
Part of the reason that this is important is that people keep mixing up what is needed to get started and what is needed to continue to invest.
Pardon my ignorance, but what is the difference between discretionary funds and income.
Discretionary income is the money that’s left over after all your essentials bills are being paid. Let’s say, you’re being paid $4,000 and your essential expense is $3,000, then the remaining $1,000 is your discretionary income. While discretionary funds are money set aside for investments or non essential spending. Let’s say, you’re now left with $1,000 discretionary income, then you can decide to set $500 for your non essential spending or for investments each week or month, that automatically becomes your discretionary funds. Therefore; you get your discretionary funds from your discretionary income.